TANZANIA: EPZA WOOS CHINESE INVESTORS

CHINESE business community have been urged to invest in Tanzania's Export Processing Zones (EPZs) and Special Economic Zones (SEZs) that are readily available and awaiting strategic investors.

The Director General of Export Processing Zones Authority (EPZA), Dr Adelhelm Meru welcomed the Chinese investors during his presentation at the second Tanzania China business forum held in Dar es Salaam recently. "We welcome you to invest in these potential areas," he told the delegates.

Giving an example, he said that the government has already set aside a total of 22,000 hectares in Bagamoyo and that EPZA encourages investors from China to come and invest in the special processing zone area.

"We envision this to become an industrial and trade centre," he said. He noted that the government in collaboration with the private sector is about to start putting up necessary infrastructure in the designated area and said this was the best time for investors to come and implement their plans.

He said that the biggest port in the country and region will be built in the area and that this will change the outlook of Bagamoyo to the biggest metropolitan centre thriving with businesses and industries.

Under the plan are a modern airport and railway line connecting the central line and TAZARA, all these in a bid to create conducive business environment.

He said that his authority has earmarked EPZ/SEZ sites in 20 regions with 500 - 9000 hectares each in Tanzania and that investors are invited to develop basic Infrastructure in the zones.

In recent weeks, EPZA entered into an agreement with the TIB Development Bank with the purpose of getting loans to develop infrastructures in areas owned by the Authority.

EPZA officials said that loans from TIB will help them develop and equip EPZA investment areas with vital infrastructures and therefore attracting investors.

They said that the move was one important step towards realising the institution's vision and mission and development of the country at large.

Through such loans, EPZA's areas such as Bagamoyo, Mtwara, Kigoma, Tanga and others in 20 regions in Tanzania will be able to get infrastructures needed by both local and foreign investors.

The Director, Industry Development at Tanzania Chamber of Commerce, Industry and Agriculture, Mr Adam Zuku, emphasised during the forum the need to elevate education and skills among Tanzanians as a prerequisite to forge fruitful partnerships with foreign investors.

"Quality knowledge and skills will help us invest and forge productive links with our colleagues from outside," he said.

The three day forum was organised by TIC in collaboration with the China-Africa Business Council (CABC) and the Ministry of Foreign Affairs and International Cooperation.

It was attended by representatives of over 100 Chinese companies and 120 Tanzanian companies. TIC has so far registered 522 investment projects from China with a value of USD 2.4 billion which expects to create 77,335 employments opportunities for Tanzanians. The forum was opened by the Chinese Vice President, Mr Li Yuanchao.